The Hewlett-Packard Company, commonly shortened to HP, is an American multinational company that developed and provided a wide variety of hardware and software products to starting consumers to large enterprises has just announced its plans to acquire HyperX, the gaming division of Kingston Technology.
Kingston offers a wide range of gaming products under the HyperX brand, including peripherals like keyboards, headsets, mice, microphones, and of course, memory modules for gaming desktop PCs and laptops. HP says that the takeover would help the company strengthen its strategy to push the growth of its Personal Systems business, where gaming and peripherals are attractive segments.
HP currently offers its own gaming portfolio with various laptops under the Omen and Pavilion Gaming series alongside gaming peripherals. HP believes that PC gaming will continue to be the most popular form of video gaming and is anticipated to be worth $70 billion by 2023. On the other hand, the global peripherals market is expected to grow to $12.2 billion by 2024.
According to their press release, HP will be paying $425 million to take over HyperX’s gaming peripherals portfolio. HyperX’s parent company, Kingston, will be retaining its DRAM, flash, and SSD products. We are yet to get a confirmation whether Kingston will continue to have control over the ‘HyperX’ brand name for the above-mentioned products that it will be retaining. The transaction is expected to close by the second quarter of 2021, pending regulatory review and other customary closing conditions.
“HyperX is a leader in peripherals whose technology is trusted by gamers around the world, and we’re thrilled to welcome their outstanding team to the HP family. We continue to advance our leadership in Personal Systems by modernizing compute experiences and expanding into valuable adjacencies. We see significant opportunities in the large and growing peripherals market, and the addition of HyperX to our portfolio will drive new sources of innovation and growth for our business,” Enrique Lores, President, and CEO, HP Inc.
We believe that its important for the gaming industry because HyperX has been a fairly popular brand among gamers and enthusiasts alike. We will have to wait and see what HP intends to do with the brand in the coming months.